Rationality and the Decision to Invest in Economics
构建了一个职业选择理论模型，并专门用于分析经济学家自身的职业决策，检验其是否符合理性预期假设。结果表明模型能更好解释入学模式，而理性预期假设未被拒绝。
In the study reported here, we develop a theoretical model of occupational choice which is then specifically tailored to fit the market for economists over time. Economists typically assume that the world is relatively free of informational barriers and that agents carefully process vast amounts of information in making decisions. This study reveals whether economists' own occupational decisions are consistent with this world of rational, calculating agents. Results suggest that tests for the internal consistency of rational expectations and our model of occupational choice cannot be rejected, while the model provides a better explanation of the observed pattern of enrollments than does an alternative that assumes agents naively base decisions only on current wage conditions.